The Seoul-based company revealed a stark 58% decline in operating profit for the quarter ending June 30, amounting to 195.3 billion won ($141 million). This figure fell short of analyst expectations, which had projected earnings of 282 billion won, according to data compiled by Bloomberg. Exacerbating the situation, LG Energy Solution posted an operating loss of 252.5 billion won when…

Samsung Electronics Co. has reported its fastest pace of sales and profit growth in years, driven by a rebound in memory chip demand amid accelerating global AI development. The world's largest maker of memory chips and smartphones posted a remarkable 15-fold increase in operating profit to 10.4 trillion won ($7.5 billion) for the June quarter, surpassing analysts’ projections. Sales surged…

Microsoft is set to invest €2.2 billion ($2.4 billion) in a substantial data center project in northeastern Spain, according to regional authorities. This move marks a significant step for Aragon as it strives to become a prominent cloud storage hub. The announcement, which follows previous plans unveiled by the US software giant, brings Microsoft's total planned investment in Aragon to…

Google's greenhouse gas emissions in 2023 were 48% higher than in 2019, according to its latest environmental report. The tech giant attributes this surge to the escalating energy needs of its data centers, driven by the explosive growth of artificial intelligence (AI). AI-powered services require significantly more computer power—and consequently, electricity—than standard online activities. This has prompted numerous warnings about…

Amazon.com Inc. has reached a $2 trillion market valuation for the first time ever, propelled by an artificial intelligence-fueled rally that has pushed the tech giant into record territory. Shares rose 3.9% on Wednesday to close at $193.61, elevating the market value to over $2 trillion. Amazon now joins an elite club of peers that have surpassed this key market…

At the headquarters of BYD Co. in Shenzhen, a wall crammed floor to ceiling with about a thousand framed patents stands as a testament to the company's innovation. These patents, representing more than 30,000 breakthroughs, highlight the ingenuity of the electric vehicle (EV) maker's billionaire founder, Wang Chuanfu, and his team of engineers. Among these innovations is the low-cost lithium-iron-phosphate…

Micron Technology Inc.’s post-results selloff served as a stark reminder to global investors about the inherent risks in betting on artificial intelligence chipmakers. The memory chip maker’s shares plummeted by about 8% in extended trading after issuing a forecast that fell short of the most optimistic estimates, underscoring the volatility in the AI sector. Days after leading AI chipmaker Nvidia…

Google has officially launched the Gemini side panel across several Workspace applications, following its debut at I/O 2024 last month. This integration brings enhanced AI capabilities directly into paid versions of Gmail, Google Drive, Docs, Sheets, and Slides, as well as Google One AI Premium. Gemini Side Panel Capabilities Formerly known as Duet AI, the Gemini side panel powered by…

YouTube is set to begin asking iOS users if they want to opt into more personalized advertising. This development comes as a response to Apple's iOS 14.5 update, which mandates app developers to explicitly inform users about tracking and obtain their consent. Starting soon, iPhone and iPad users will see a one-time prompt in the YouTube app asking, "Allow 'YouTube'…

Nvidia Corporation’s remarkable ascent in the stock market shows no signs of abating, as shares have surged over 200% in the past year. This extraordinary growth has prompted Rosenblatt Securities analyst Hans Mosesmann to raise his price target on the semiconductor titan to a Wall Street high of $200, projecting a market valuation approaching $5 trillion by 2025. Nvidia’s stock…

Apple Inc. (AAPL) surged ahead of Microsoft Corp. (MSFT) to become the world's most valuable company once again, thanks to its strides in artificial intelligence (AI) technology. Apple’s shares skyrocketed nearly 4%, reaching an all-time high of $215.04, and propelling its market valuation to an impressive $3.29 trillion. This leap placed Apple ahead of Microsoft’s $3.24 trillion market cap for…

Samsung isn’t waiting around for Oura to file any patent claims over its forthcoming smart ring. Instead, it’s preemptively filed its own suit against Oura, seeking a “declaratory judgment” that states the Galaxy Ring doesn’t infringe on five Oura patents. The suit alleges that Oura has a pattern of filing patent suits against competitors based on “features common to virtually…

Wang Chuanfu, Chairman of BYD Co., China’s largest auto company, criticized Western countries for their apprehension towards Chinese electric vehicles (EVs). Wang, a billionaire entrepreneur, highlighted that foreign concerns reflect the strength of China’s burgeoning car industry. "If you are not strong enough, they will not be afraid of you," Wang emphasized, addressing the audience on Friday. He pointed out…

Instagram has recently confirmed that it is testing a new format of ‘unskippable’ ads, sparking a wave of user discontent across social media platforms. The feature was first noticed by Dan Levy, an Instagram user who shared a screenshot of the ad on X (formerly Twitter). According to the screenshots, these ad breaks prevent users from continuing to scroll through…

The iconic Geneva International Motor Show, a staple in the automotive world for over a century, has announced its permanent closure, marking the end of an era that began in 1905. This decision comes as a blow to the automotive community, which has witnessed the show’s prominence decline in recent years. Organizers cite waning interest from automakers and increased competition…